The Sun. — London, England, 1810-12-13 00:00:00

One a 5 3und to e MI in ' 5, Csp l esewati to this be the Irniioll , mt Fre 3if;here,, ailed OF , !lowing Range'; severe , leave S, frou3 Nodlt C, Witb ds. terdavi With 3 e . nCe ii eicaect arrest.- ship d w ILI I Frt.Licb iin aria sail its c ie sy . * It 111, y 002 tunit!f r it thew• foul of takc i ta 04 0, ' foug llt ur~en , ,or itigge t. lid The ress elp rt di s " t find' ) wifi ris thy' of the ate On -ibe Se?" ie 1 351. gal= • m ' l4 Wit h ongsi iar its ( 0 51 kr he t budY nii sl iy tti° o rac° doo l if 11, \ (11\1 EXTRACT PROM SIR JOHN , SINCLIR's PAMPHLET. PO LITICAL MAXINI3 .REGARDING COIN AND PAPER CURRENCY, INTE.NDED TO EXPLAIN THE REAL NATURE AND . ADVANTAGES OF, THE PRE S ENT SYSTEM, . . 1. Thai it is 'of the utmost. iniportance, in art early period of society, to have'metals, or any other substance of a similar nature, fixed upon by corn- . flan consent, by ineans of. which individuals may receive the reward of their labour,rand the public ILI - revenue, in an article eltial in value, when sold, to that for which it has been exchanged, and which will answer as a medium for transterring property '') goods, without the tiece,sity of actual barter ; and that 'the precious metals, trom , their intrinsic. value, and other advantages, are peculiarly calcapn fated for such useful purposes in. periods of so ciety, when property is insecure, payments few, credit unknown, and the population inconsiderable. 2. That when a society becomeS more numer ous, property more secure, and payments _larger and khare frequent, it . 14 a most essential :improvement in the political circumstances of a country, to have some means-of paying the wages of labour, raiSiiig, a revenue, and , eftetting.the transfer of goods, with. such a circulating medium as paper currency, being . of a nature less combrnus. than coin or bullion, and 110 1 liable to the various disAvantages, lobe after wards explained, attending a meallic circulating me- . diem ; and That in countries where no mines of the precious metals exist,• the necessity of procuring I.lacm from foreign countries,- at an enormous ex- Pence, for no other purpose,. but merely to act as the medium of circulation, is' thereby prevented. -a. That the establishment aa, paper currency is *f great importance to a nation, were it only iorthe ronrposeolsavingthe expence of purchasing bullion 1 0 be conve-ted into , coin ; but that such a currency does not answer the object' effectuallY,• more espc;- cially in times of war, if the paper is: Convertible into coin on demand, as, in that case, a large'quan lay of speCie .is uselessly hoarded up, to Ott ready for any.. probable, or even possible,demand, and bence that, in times of alarm, the circulation of a Country is' rnost,.diminisheci, 'when its abundance is Inost .requited. . . '4. That coin,.though highly_useftal when no other riledittin of transfer can well be es!rthlished, yet, is attended With great disadvantages:l. If i perfea 7 ly unfit for making large paymen's, insomuch, that . 2 teither the commerce of this country; to its present extent, could be carried on, nor its great revenue . colletaed, if coin were the sole medium of circula ttion.-72. It can never be procured in sufECient quan tities for the demands of an industrious, and pros- Perotisr nation.— . 3. It is constantly tharinishing in its Value by wear, which diminution must be made . good, either by the public or by. the indiriduaL*-:- 4. It is liable to various operations., as filing, clip- Ping, sweating,'&c. by which its weight may be No much reduced, as . to render it unfit for passing.— P. It is apt' to be hiOarded up when it, is. most Wanted, namely, in times of alarm, and the hoards being generally secret, she are 'frequently totally last ;- - and, 6.. Private • individuals possessing a quantity of specie, are more liable to lose their right - of property in it, than in. paper.; and when nations possess it in great abundance it is a teMpta lion to invasioo."t 5. That paper' currency, •on the Other hand, 'hen properly regulated, is . not liable to one of these. objections, WftliSt ft possesses many advatt-- (ages of; peculiar A. nation has th edvantoge of this curiz....,cy,at Itt tle or no .expence; itisiead of exporting millions worth of goods to pur chase bullion to be conversed into coin, which, after all, could only answer the same purpose as paper currency, but. not . so well.-2. This currency need never be diminished in its amount, tvhfth uniform 4, occasions infinite misery to' a country ; on the contrary, it may be augmented whenever the'wants .of agriculture, to catty on its tuiprovemetits, or of on increasing commerce or revenue,. render it ne cessary.--3. Where paper currency isrthe - medium of circulation, either corn or bullion, instead of.being uselessly hoarded' up, may be exported, for the pur- pose of carrying on necessary wars, or of purchasing grain in "tinies of scarcity, which could not other wise be hazarded, without the tisk of throwing the whOle country into confusion.-4. With an abun dant circulation, the necessary result of. a paper cur rency; a nation prospers to a degree beyond all pos sibleCooception • _Ltl io usands of people are employed, who, under a different system, Might either have been almost entirely idle, or a burthen on the COM 111Unity ; and money, whether borrowed by indi 7 vidualsLor by the public, is p.ocnrable, (a point of the most essential . ' importance), at.a moderate rate of interest. With such facilities, the payment of taxes, however great, is accompanied with Much less difficulty ; industry does not lauguiih. for..want Of employment, and every species of improvement is carried on with spirit. The.tnischiefs of a cramp ed cireblation, on the other - hand, 'are incalculable ; agriculture decays—commerce fades—public credit is annihilated—the public revenue becomes unpro ductive-7-and men, : frotn. distress and despair, are ready to involve.themselves and their country in all the - horrors' of a revolution. 6. That the state of Great Britain, for a period of thirteen years,. during which a paper currency, not convertible into coin, was the,. medium of cir culation, proves, beyond the possibility of doubt, the , advantages of the new system. •During that. Whole peribJ, our exertions in foreign war, and domestic improvement, have been great beyond all example. We have at least occa,ionaliy fought France single-handed, which her Emperor had bold ly declared to be irnpos,ible; we have confirmed our empire of the. sea; we have every where defend- * In the reign of King Williath alone, the recoinage cost the public 3,t70,401. History of the Revenue, Vol. p. 45, The average expence of the Revolution was only about three millions per annum. t When an individual is plundered of coin, there are no tneansot distinguishing it from the other specie in circula lion; but notes may be marked, or the payment stopped, and any loss thereby prevented. In regard to nations, abundance of coin or bullion beec - nes the immediate objed of the plun-% der of an invading ; wherea:; the paper currency pecu. liar to a country, if he succeeds in his views of conquest, is of no,use to him; whilst it circulates amongst those who place Confidence in- the Government, under whose sanction it had been issued. ed Our friends ; are have every where combated our enemies; and yet, during all •that, period, the Bank of England was not Cotivello to issue gold ;—the whole was effeted by paper, not convertible into coin. Would it be wise to 6Verturn a system Capable - of-.accomplishing such astonishing. effects ? 7. That there is a most essential difference be . tweeri a Paper Currency, ading merely as the re- Presentation,• not of coin, but of marketable pro perty in general, and issued by a respectable, opu lent, and well conducted Corporation ; and State notes, or GovernMent paper, circulated by com pulsion, issued without limits, and founded on no security; and though-such Government paper may have become depreciated in other-countries, when multiplied beyond all boundi, that is no reason why a Paper Currency, of a description completely,dif ferent, namely, mercanti;e paper, which is never issued but on the most unquestionable security, may not, under proper regulations, be perfedly "unex ceptionable. 8. That coin or bullion, as a species of merchan dise merely, may be of service in the transactions between commercial nations; and is a ready means :of making remittances from one country to another; but that unless wherd 'the balance is unfaVoteable, (in 'which, case the exportation of goods is much more expedient), the exchange between one coun, try and another is best arranged, by means of bills of exchange, w kich are always at the command of an active and industrious nation, wren wars, and obstacles arising :from commercial jealousy, or po liticaVranceur, do not intervene. g. That even where the exchange is unfavourable, it is much better to be subje4;ttd to any loss thereb' occasioned, than fora nation to deprive itself of the advantages ot Paper Currency, even if that cur-. rency were the cause of the lowness of the exchange; for'that a paper currency, by 'promoting industry, • and every species of agricultural and commercial improvement, will soon bring about a favourable : state of exchange, either by the solid. ex i .ortable wealth which it would be the means ot producing, or by raising articles at home,. with which we are • now supplied by foreign countries. That the Bank of England cannot well ex ceed in the amount at its circulation, whilst it issues its notes on the security of good marketable pro • perty of any description, and that to compel the Bank to pay in gold, an article which, fruin the failure of the mines, or a general disposition to hoard, it may be impossible to obtain, and which, after all, is itself nothing but a species of ma: keta ble property, would infallibly shake and subvert, not only the credit of our circulating medium as it is now established; but also the whole fabric of the commercial ''and Public credit of the kingdom, on the maintenance of which its prosperity so essen tially depends. That it is highly desirable, that the circula tion and commerce, not only of any particular coun try, but of society in general, ..heuld• be carried on with ,as small a proportion of the precious metals as possible, the extracting of which from the bowels' of the earth, requires so much labetur and expence, and for the procuring at which, the lives of so many millions of humin beings have been unnecessarily, and it may be safely contended, in a great measure, even wantonly, sacrificed; and, H.- That the price of bullion rising in the market much above the mint price, is a circumstance at taching to gold merely as merchandize, and.which must vary with the demand for that merchandize, as in every other similar case; and that We might as well institute an inquiry into the price of dia inonds, ot cochineal; of sugar,, or ot any oilier coal , modify, .as into that of bullion. • The conclusion of the whole is this, that Parlia ' meat catt-tfind no difficulty in reditying any abuses (if any shall •• be found to exist) which may have • arisen in our paper circulailun, as it is now esta blished, for it is only the abuse that can be justly ' objeded to; but. that wholly to overturn a system, which has proved such a sourte of national prospe rity, which has stood the test • of the experience Of 13 years, the most eventful in the history of man; kind, and a system which, if maintained, will ena ble us to resist the utmostefforu of all our enemies, would-be a -species ot political suicide, altogether. unpardonable. • 5, Terrace, Palace-yard. London, November 24, 18 (0. JOHN SINCLAIR. IPINDSOR, DEC. i 1. Her. MAJESTY took an airing this morning into Buckinghamshire, accompanied by the Princess ELI ZABETH, and two Ladies in Waiting. The Princess MARY improves in ,her health daily.' • Her Royal .Highness takes the advantage of air. and..exercise, to which she has been a stranger for many months pasL The Duke.of YORK, who had been ,a, visitor in the Castle ever since Saturday last, leftPit_ this morning, Some idealof the distress produced on the Conti nent,• by the scarcity of colonial produce, may be formed from the following circumstance :—the phy sicians of Vienna have declared that there are people who cannot renounce the use of coffee without in jury to their health ; and that they have in conse quence proposed, that ,apothecaries should be per mitted to keep coffee, ,and physicians to prescribe an ounce a day to persons who cannot do without it. This single case describes, with all the copious . ness of volumes, the wretched state of those coun tries under, the influence of the inexorable Tyrant of Fiance. In consequence ofi two Bankers faking at Paris, one of the firschouses at Amsterdam has been obliged to stop payment. Si ITIIFIELD CLUB.—Yesterday afternoon the cat tle, sheep, and pigs, intended to be sheWn fur the prizes offered by this Society, began to arrive in Gos•vell-street. Among the very fine animals sent in last night, were some belonging to the Duke of Bedford, George Caswell,.Esq. Messrs. John West car, John Warmingtun,. Richard Hudson, jun. H. King, John Fox, Francis Guy, Thomas Goodman, John Jenner, &c.—At five o'clock, the three Judges of the Show, the Stewards, and a party 'of Agricul turalists, dined at the Three Caps, in Gw4vvell street, Sir John Sandeis Seabiight in the,chair. UNITED ST TES. ON THE. PRESIDENT'S PROCLAMATION. [PROM 'THE NATIONAL INTELLIGBNCER.] , . . The Proclamation of the President must relieve t public mind from much of the sel'citude which' it IL:, for some time past felt. It announces the fad, officially ascertained, 'that the " ediet s of, France violating the neutral commerce of the' United States, have been revoked, and are to cea , e to have — effeet ;" and in virtue of the 'unqualified directions of an of Congress, &dares all , !-xis:iog restrictions on the commerce 'and 'vessels of FranCe and lier dependencies removed:, As, however, no restriction exists with regard to Friince, except the exclusion of her armed vessels from oar volts, the principal etTeat produced will be in our favour by the revocation of our decrees, by which we' shall by permitted to carry on oar trade without any other annoyance from her than is authorized by the esta blislied laws and' sage of rations. It is scarcely ne cessaty to remark, that the President in his Precla mation, has strittly and literally pursued the track marked out by the Oongress, having merely dis charged a ministerial trust. A feeble stand has indeed been made' by a , kw :warm partizans, who have coatended, that solong as the French Government retains the seqUestered property of our merchants, she evioces an indisposi tion to cease to violate the neutral commerce of the United StAtes." Bet admitting the fa6t, grid concur rirg fully in the sentiment, that while she does re tain' that pikfrpeity;" she continues ro conirnit a fie g,grant injustice, does that prove in the very face of a splemn , otlicial - declaratiOn that she will not hereaf ter change her course, when she explicitly says that she will ? The 'seiztire and •sequestration 'of our property; althbugh it is highly reprehensible, and will unquestionably present a solemn• point of dis cusssion on our part, .were acts - long anterior to the declaratioa revoking her editis, and these very atts, so flagrantly in violation of our neutral commerce, are those among others which by her declaration she pledges herself to cease committing. If after . her declaration she has continued - to seize and se quester our property, a correct suspicion:would have been excited, and it !bight then well have been dotbted whether she intended to carry her promise into etteEt but site is not 'charged' with buy such conduct. • It has moreover been seen that the terms of , the Act of Congress are broad and imperative, entirely to the,future, 'and not clogging any arrange ments calculated to secure a respect for our rights hereafter by a reference 'to past -- condtta, however atrocious. On this head, therefor-, the President being vested with no disetetion, could exercise none. There is another (pestle!), one perfectly distinct, which it may remain hereafter to, settle with .the French Government. By her recording her edicts, and our withdrawing our restrictions, the question of sequestrated property is dot put to rest, it will still remain its full for.e, -and Our claims on her justice and honour will be unabated Trre Cir&liar of the' Secretary of the Treasury sates the next step' taken 'on this interesting con cern. It declares the state of things which will three months hence exist with regard to Great Bri tain, in case she shall not have revoked or modified in like Manner her edicts violating the neutral corn mace of the United States, according, to the same Act of Congress, which prohibits ." both the.en i ranee. of British vessels of every. description into the harbours and waters of the United States, and the importation into the United States of any articles the growth, produce, 'or manufacture of the dominii ons, colonies, and dependencies ; of Great Britain, or of any articles whatsnever,.brought from the said dominions,,or dependencies. . ' - This was a result too itnportant ! to be passed over in silence by a Goverpinent imtititted for the pro teOtion of its citizens in all, their lawful pursuits. As so large a portion-of our ordinar,y trade is carried - on with Great , Britain and her dependencies, it was proper -that whatever went to suspend , it should be, dearly stated, that every doubt : On : this. head might bereinoved... 'Prompt as this notice is, it will barely afford time for the merchahts to give requisite strudions to •their., agents in England, .and .to the Merchants in England, to avoid the penalty attached to an infraation of our laws, in case she shall not revoke her orders. This official communication is, further important, as it, announces. to Great Britain and France the determination of the. Executive to carry the Ad of Congress with.serupuluus good faith into effed. Ore former it carries, serious appeal, claiming the'same respell .for our neutral rights as, We had experienced from .the enemy ; While to the latter it is a proof of our tigidimpartiality and pur-. pose, ,to ael towards her as •we did to her .enemy, under circumstances in some measure analagoaS. Thus - has the present Chief Magistrate, in the short period of eighteen months, had an ,upporiu trity, by the most emphatic and striking display of .impartiality, to whew his•unbiassed and ,iniicxtble re gard for justice towards the two , colossal powers, whose deadly feuds SQOeelily.dissurb the- repose of the world. In the arrangement with Mr. Erskine, this disposition was sliewn towards Great Britain; it is now similarly exhibited towards France; the same measure that was dealt out to one, is now ex ' tended to the other ; men who are not- the veriest of slaves of Party, must approve, in this last in-, tance,, what they so warmly applauded in the .former. Will England follow, the example thus happily set by France ? If she has a regard for her char.,c ter, tor her word, or for her interest, she must; her character calls upon her to defend, instead ot op pf,:ssing, neutral rights ; her word has been repeat. ediy pled-gd to rescind or revoke her Edicts, vio lating our neutral rights, as soon as France revoked • hers, and her interests require her to maintain a good utulerstanding, with her best customer. These con. siderations ought to influence tier; she cherishes: the hope that they will : but they may not. She may mistake her interest, and in id-founded hopes and calculations too little regard her character and wotd, which may be sacrificed again on the altar of a false .necessity. Under. the .uncertainty which hangs on the future, our course is - fortunately obvious. Let us value her goud will, and. by all proper mOna. cAtivale it ; hut let vs value j:!st:ce be prcpar:td %vial alacrity ;qi,l vip,o, A r rights against all aggre,:ionS upon come from What quArter they will: OLD BAILEY. WEDNESDAY, DEC. 1.2. 7 --. SEVENTH DAY. The Court proceed to. pass sentence.on e seva rat prisoners who were under conviction, and who had not received judgment. The.firsi put to the bar, werethe following jour neymen printers and pressmen, vie. R6bert Ho A7leir, John Gee . , - WM.•Clitden, Stephen.B:ckeit, George Westry, Stephen Hurley, Henry Byrne, T'ormis Woolley, Robert Pa kin, Edward Risdon, Williams, CoAbet .Latharn, Wtn. Coy, I.rrn2.s.- Ma cattney, John - Mackintosh,. Nicholas -Mal colm Craig, John Chapman, and 'John Simpson. As soon as they were severally ca'kd over, 'The MtCORDER addressed thein. He otiserved, that the offence with which they were charged, 'and of which they were all found guilty, was one which the law held in so ignomini , Les a•view, that horn the moment •I he verdict was pronounced, they werelor ever held infamous:. It was, an' offenje u p on w h ic h . the heavy hand of th e law imposed the. heaviest penalties, and the - most degrading Their offence, too, was classed under the most ag gravating of this description. It was not a coot spiracy to beiter their condition, it w..s• not a con spiracy to have their wages increased, or their in cume turd 'comforts improved, but, it was a cons spiracy, ender colour of all thest., wickedly and wilfully to ruin their eMployers, to destrop the laudable' pursuits of honourable men: and to overwhelm in • their machinations those whom they were bound to protect by every tie of duty and of gratitude. It was necessary, therefore, to have it known to the world, that deeds like.thesc should be met by pains :and :punishments adequate. to their enormity, that, .by••the example made of• them, others may be .deterred from rushing head long to the same% precipice, 'and from hurling ttmeit innocent familie with themselves to inevitable ma. For - these reasons the- Court, after the 1n0,.t ,en u os and &liberate ~ . ..derati6n of each of them' dis, tindivciy,• ordered that Robert Howlett and John Gee should be respectively imprisoned two years in his Majesty's Gaul of Newgate, and be hoed- ts: each, and be further imprisoned ail .that fine be paid. • 7 • That WAlinin Clifton, Stephen Beckett,. and George Westrey, be imprisoned in the lame gaol for Ilse space of eigtlteen cdltindar months, and hued I s. each. . . That Stephen Hurley, Henry Byrne, and Thomas Woolley, be inprisoned twoilve calendar' Months in the 'same gaol each, and pay the like fine. That Robert Paskin, Edward Risdon,. William Corbet Latham, Williana . Coy, .Fimes Macartney„ John IV.lackintosh, Nathaniel Collins, Malcolm Craig, John Chapman, and John Simpson, should be imprisoned nine calendar months each in the same gaol, and pay the like fine. When this last sentence was pronounced, Macart ney having remarked that tiny Shad been recott mended by the. Jury to the merciful - c.wsideration of the Court,. desired to know whether the sen tence was to bear date from the day of their con finernent ? Tne RECORDER answered, that the Court was not without taking into its consideration the recommen dation of the Jury, and therefore the punishments were gradated accordingifr; but' nevertheless it wzto the determination of the Court, in making such gim dation, to order that the sentence should bear time from this day, the day on which it was prono;nced, --ad it was recorded so. Woolley said, he had served the prosecutor) faith fully and conscientiously, and had left them accord ing- to the general *custom of the track, whitli had be , :n.tbe : universpl practice for at least half a ce.ti tory, When the former prisoners were removed by the Keepers from the Bar, the capital convicts were im• mediately brought forward, when J. H. Hepburn and William White, for a mast detestable offence, and eighteen others, received judgment of death. Hepburn presented a paper in the shape of a pe tition, which being read, ,Ovas a solicitation that 0)1 evidence of the approver Mann might be. re-con sidered, alleging that the whole. of it was a t:ssue of falsehood. The Re.corder received it, but no other notice was taken of it. A great number of persons were ordered to. he transported for various p!...tiods, and many were or dered .to be publicly and privately whipped, and the Sessions, was adjourned to Wednesday, the gilt day of January next.. , • SgpßllNG.—Beides the great watch betwixt CU:I -/lb/ilia/44z, that of Mr. MILTON engrosses its it'd share of attention. The match is 'to tide to Stam• ford (go miles) in five hours, and to be done within 17 days. Betting is against the.pertormance, as the rider has to perform 18 miles in each hour; be will go off the stones on .a,-poney, will then mount a fleet mare to Stamtord, and will have nine other horses. ATTEMPTED SUICIDE.—EarIy yesterday morning, a very respectable family in the neighbourhood l 4)l Park-lane, was alarmed by the sudden indisposition of a young lady, 23 years of age, the daughter of a .merchant. . Surgical aid-Was procured, and the young lady 'was suspected of having taken poison. A ves sel was discovered in which some arsenic had been mixed, and powerful emetics' were administered. 'A. part of the nauseous draught was extracted. . The lady, however, is not expetited to recover. , T.ie cause of the rash a& is not known. MARLBOROUGH•STREEL—A man of the name of Field, was charged with cutting and maimin g a watchman, in St. Giles's, o f the name jx e ( v i es, yestertby mornin g . It appe are d i n evidence that .the watchman had taken th e pr i soner ' s wife tor felony,. and she is now in N ewgate under sentence, for fourteen years' transportation. Early' yesterday morning the prisoner attacked the' watchman on-his be.it in St. Giles's,, with a drawn knife, and swore to do for him and others; the prisoner made a thrust at the prosecutor With his knife, and the latter in avoiding it was wounded in tble hand. The pri soner was committed for ttirl. ( •